ANALYSIS OF PT INKA’S FINANCIAL STATEMENTS FOR THE 2021–2023 PERIOD TO EVALUATE FINANCIAL PERFORMANCE

Abstract

PT INKA is a state-owned enterprise and the first integrated railway manufacturing corporation in Southeast Asia. This research aims to evaluate the financial performance of PT INKA during the 2021–2023 period based on its financial ratios. The analytical method used is descriptive quantitative, utilizing financial ratios including profitability, activity, liquidity, and solvency ratios. The research results indicate that PT INKA's financial performance during the 2021–2023 period, based on these four ratios, is considered suboptimal. The solvency ratio exceeded the industry average, while the other three ratios were below their respective industry averages. These findings suggest that PT INKA needs to manage its assets more effectively, restructure its debt, and improve its financial performance. This research is expected to serve as a reference for stakeholders in developing accurate strategic improvements.